Modera Wealth Management LLC Sells 155 Shares of Elevance Health, Inc. (NYSE:ELV)

Modera Wealth Management LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,779 shares of the company’s stock after selling 155 shares during the quarter. Modera Wealth Management LLC’s holdings in Elevance Health were worth $10,343,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Private Wealth Management Group LLC increased its holdings in shares of Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares during the last quarter. Accredited Wealth Management LLC bought a new stake in Elevance Health in the 4th quarter worth approximately $25,000. Riverview Trust Co increased its stake in Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after acquiring an additional 67 shares during the last quarter. North Capital Inc. purchased a new stake in shares of Elevance Health during the 1st quarter worth approximately $36,000. Finally, Berbice Capital Management LLC bought a new position in shares of Elevance Health during the 1st quarter valued at approximately $43,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $293.99 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market cap of $66.20 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.06 and a beta of 0.60. The firm has a 50-day moving average of $353.84 and a two-hundred day moving average of $390.66. Elevance Health, Inc. has a 1 year low of $274.40 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. During the same period in the prior year, the firm posted $10.12 EPS. The business’s revenue was up 14.3% on a year-over-year basis. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Wednesday, September 10th. Elevance Health’s payout ratio is 29.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Robert W. Baird decreased their price target on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Leerink Partnrs cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Morgan Stanley lowered their price objective on Elevance Health from $428.00 to $316.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Finally, Guggenheim dropped their target price on Elevance Health from $447.00 to $360.00 and set a “buy” rating for the company in a report on Friday, July 18th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $418.19.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.